Focus Stocks

BB&T Is Near a Key Resistance Area

Published on Friday, 15 February 2013 11:56
Written by TradersHuddle Wire

New York, February 15th (TradersHuddle.com) - Shares of BB&T Corporation (NYSE:BBT) are trading
very close to calculated resistance at $31.19. The stock ended the trading session at just $30.36, which is near levels that make it difficult to buy or start a position.

BB&T Corporation (NYSE:BBT) operates banking locations in North and South Carolina, Georgia, Virginia, Maryland, West Virginia, Kentucky, Alabama, Indiana, Washington D.C., Florida and Tennessee. The Company offers full-service commercial and retail banking, as well as insurance, retail brokerage, corporate finance, and international banking.

BB&T's stock range is defined by its calculated support defined at $26.86 and by the
resistance level at $31.19; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for BB&T. However, as the stock pulls back towards $26.86 it
will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $31.19 then traders will get an opportunity to enter the stock as it moves to a higher range.

Related Articles

Related Partner Headlines

You could minimize risk by trading in stock sectors rather than individual stocks. Find out why ETFs are the hottest investment vehicle on the planet. Try ETF Profits for FREE NOW!